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U.S. auto sales end 2012 on strong note

By The Associated Press

This article was published January 3, 2013 at 1:28 p.m.

— Strong U.S. sales in December capped a remarkable year for the auto industry — especially Japanese brands — and 2013 should be even better.

Sales of new cars and trucks are expected to total 14.5 million after all carmakers announce figures Thursday. That is 13 percent better than 2011 and the best performance in five years.

In 2012, Americans had plenty of incentive to buy new cars and trucks. Unemployment eased. Home sales and prices rose. And the average age of a car topped 11 years in the U.S., a record that spurred people to trade in. Banks made that easier by offering low interest rates and greater access to loans, even for those with lousy credit.

“The U.S. light vehicle sales market continues to be a bright spot in the tremulous global environment,” said Jeff Schuster, senior vice president of forecasting for LMC Automotive, a Detroit-area industry forecasting firm.

Year-end deals on pickups and the usual round of holiday ads helped December sales jump 10 percent to more than 1.3 million, auto pricing site TrueCar.com predicted. That would translate to an annual rate of more than 15.6 million, making December the strongest month of 2012.

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Displaying 1 - 2 of 2 total comments

djigoo says... January 3, 2013 at 2:21 p.m.

Great news!

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Jfish says... January 3, 2013 at 3:07 p.m.

I guess they can thank the US taxpayers for the bailout.

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